ANB’s Q1 2020 net profit falls 17% to SAR 643.8 mln

21/05/2020 Argaam Exclusive

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Arab National Bank (ANB) reported a 17% decline year-on-year (YoY) in net profit to SAR 643.8 million for Q1 2020, as compared to SAR 779 million for the same period last year.

 

The profit drop was driven by an 8.8% decline in total operating income due to lower income from net special commission, dividend, commission, exchange and trading. In addition, total operating expenses rose by 2.5% due to increase in impairment charge for credit losses and general and administrative (G&A) expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Net Special Commission Income 1,364.84 1,290.76 (5.4 %)
Operating Income 1,633.15 1,489.61 (8.8 %)
Debt Provisions (147.99) (198.35) (34.0 %)
Net Income 778.97 643.79 (17.4 %)
Average Shares 2,000.00 2,000.00 -
Earnings Per Share before unusual items (Riyals) 0.39 0.32 (17.4 %)
EPS (Riyals) 0.39 0.32 (17.4 %)
EPS Diluted (Riyal) 0.39 0.32 (17.4 %)

When compared to previous quarter, net profit in Q1 rose 25% as total operating expenses fell by 25.1%.

Balance Sheet (B)

Item 3m 2019 3m 2020 Change‬
Assets 168.68 184.87 9.6 %
Customer Deposits 130.31 135.98 4.4 %
Loan 120.19 119.94 (0.2 %)

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Share Price

Arab National Bank
22.40
0.26 1.17 %

Arab National Bank (ANB)

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Financial Ratios
Current
Market Cap (M Riyal) 44,800.00
Shares Outstanding ((M)) 2,000.00
EPS ( Riyal) (TTM) 2.48
EPS Diluted ( Riyal) (TTM) 2.48
Book Value (BV) ( Riyal) 19.06
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 8.81
P/E (TTM) 9.02
Price/book 1.18
Return on Average Assets (%) (TTM) 2.1
Return on Average Equity (%) (TTM) 13.4
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